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  1. Deloitte acquires cyber consultancy team

    that is part of a global network of 16 operational hubs along with five more planned. Following its large-scale hack late last month, Optus appointed Deloitte to conduct an independent external review of the recent cyber attack, along with its security...

  2. Protect your firm from the effects of a cyber breach

    of cybercrime. It happens more frequently than you might think. In 2022, a ransomware attack occurred every 11 seconds. Last year, the ransomware industry shot up to $20 billion. Preparation is key. Businesses should assess their preparedness for a...

    • Type: Article
    • Author: Accountancy Insurance
    • Category: Technology
  3. ASIC outlines key strategies for crypto regulation

    trillion in the value of their holdings during the course of this year.” “Sadly, many of those investors whom ASIC surveyed last year — at what turned out to be the peak of crypto prices — have probably shared in these very significant losses.” Mr...

  4. Revenue ‘too reliant on income tax, with or without stage 3 cuts’

    billion in additional revenue over the next four years to be revealed in the October Budget.” “But this is likely to be the last budget to unveil an unanticipated write up in government revenue for the foreseeable future. Continuing to repair the budget...

  5. Tassie food outlets forced to back pay workers $120,000

    things are being found out.” The Launceston raids come after the FWO made surprise inspections on 48 food outlets in Darwin last month, revealing 479 staff had been underpaid by a combined $400,000. “The Fair Work Ombudsman will continue to prioritise...

  6. Preparation and speedy response key to cyber protection, experts say

    unduly alarm stakeholders.” Mr Zugec said all businesses would have to contend with cyber attacks in the future. “Over the last few years, we have seen an increase in hybrid attacks — this is a combination of an opportunistic attack where the initial...

  7. Productivity Commission warns against multi-employer bargaining

    and said it was just attacking workers. “The Productivity Commission are another politicised relic of the previous Govt. One last acts (sic) of Josh Frydenberg was to charge then with attacking workers rights. They have no idea how wages bargaining...

  8. Fee rise will cripple our grad program: internal audit body

    its functions with efficiency, accountability, and transparency in a timely manner,” said Dr Hendy. “Over the course of the last few years TEQSA has fallen short of sectoral performance expectations on various occasions.” “IHEA will continue to advocate...

  9. Introducing Shoebox Payroll; a Platform for Better Payroll Efficiency

    group of over 50 bookkeepers and accountants, here at Shoebox Books and Tax, we’ve come across plenty of clients over the last decade that have found themselves up late triple checking and finalising paycheques for their employees, wishing there was a...

  10. How to avoid the traps in TPD claims through super

    remains one of the most vital parts of the life insurance ecosystem. In fact, its importance has increased in the wake of last year’s changes to Individual Disability Income Insurance (the sustainability measures announced by APRA in September 2021)....

  11. For real, accountable feel-good, the buck stops with finance

    to be hit with a range of financial penalties. They include fines, higher insurance payments and reduced market value — the last courtesy of the fact that investors are becoming increasingly chary about putting their funds into firms that aren’t taking...

  12. Government ramps up director ID campaign as deadline looms

    quite likely that you’re a director, and you’ll need to apply for your director ID,” Mr Jones said. “Don’t leave it to the last minute — if you’re a company director you must apply by 30 November — so make sure you make time to get it done.” The...

  13. Small business debt and tax gap at top of ATO hit list

    even bigger problem with the total taxes outstanding blowing out from $39 billion at the start of 2019 to about $60 billion last January. “Of this, more than $37 billion is defined as collectable, which means either not disputed and not insolvent.” “Of...

  14. Over half of SMSF directors yet to apply for director ID

    a director, and you’ll need to apply for your director ID,” said Assistant Treasurer Stephen Jones. “Don’t leave it to the last minute — if you’re a company director, you must apply by 30 November — so make sure you make time to get it done.”

  15. ATO to target individual taxpayers over $8bn shortfall

    of rental claims that needed adjustment, according to ATO Second Commissioner Jeremy Hirschhorn. Mr Hirschhorn, speaking at last week’s Tax Summit, called upon the “tax community” to help shift Australia’s attitude towards maximising returns through...

  16. Medibank breach could compromise up to 4 million

    the breach to cost $25 million to $35 million. Medibank shares, which resumed trading yesterday following suspension last week, had plummeted 18 per cent by the end of the day to $2.87. The marketing manager of cyber security specialist Eftsure, Niek...

  17. [CPD] PCG 2021/4 : How to advise your clients on professional firm profits

    tax planning time of May/June 2023 will be too late. The ATO released PCG 2021/4 - Allocation of Professional Firm Profits last year, and it applies from July 2022 onwards. The ATO require your professional client groups to have an average tax rate of...

  18. Rushed changes to workplace relations risk ‘conflict’

    to be rushed, say business bodies in the wake of the government’s Secure Jobs, Better Pay bill introduced to parliament last week, or the result will be “workplace conflict”. A simpler and more accessible industrial relations system should be the...

  19. ASIC finds rise in audit issues focused on revenue, assets

    for an increase in negative findings in its inspection report for 2021-22. Negative findings rose to 36 per cent from 32 last year and ASIC called on the sector to focus on improving audit quality by examining best practice case studies in the report....

  20. ATO collectable debt balloons to $45bn, small business on hit list

    cent of the net take – and focus of a trio of key compliance programs which were extended by $1.5 billion in budget funding last week. Assistant Treasurer Stephen Jones said the compliance programs would bring in $5.7 billion over four years to improve...